MOSCOW, November 11 (RIA Novosti) - The board of state-owned Russian bank Vneshtorgbank decided Friday to release an additional $10 bln of the company's stock.
Ten million common shares will be issued with par value of 1,000 rubles, and the price of each share at placement will be 3,760 rubles ($131).
The shares will be placed through a private offering.
In October, VTB shareholders decided to increase the company's registered capital by $347 million through an additional share issue.
Funds received from the float will be used to buy the Russian Central Bank's stock in several Russian investment institutions based abroad.
Buying the stock will allow VTB to increase its role in serving European companies and investment banking operations linked to Russia.
After this deal, VTB's total assets will reach $25 billion.
